PIC and Dow Complete in Olefins II JV in Kuwait

03-Mar-05
Petrochemical Industries Company (PIC) of Kuwait, a wholly owned subsidiary of Kuwait Petroleum Corporation, and The Dow Chemical Company have commenced the next phase of construction of their new ethylene and derivatives complex in Shuaiba, Kuwait. The foundation stone was laid for the construction phase of the project, also referred to as Olefins II. Start up is anticipated in early 2008. The project fits with PIC's long-term strategy to expand its participation in the global petrochemical industry. Olefins II will empower Kuwait with a cost competitive geographic position, enabling profitable growth, particularly in Asia. Olefins II will include: * 850,000 metric tpa ethane cracker * A world-scale 600,000 metric tpa ethylene oxide/ethylene glycol plant using METEOR(TM) technology * Expansion of the existing capacity of 600,000 metric tpa of polyethylene to utilize the additional ethylene In addition to Olefins II, PIC and Dow expect to build an ethylbenzene/styrene unit of 450,000 metric tpa supplied with ethylene from Olefins II and benzene from the Aromatics Project, to be built simultaneously on the site adjacent to EQUATE. EQUATE will manage, operate and maintain the Olefins II facilities. The business relationship between PIC and Dow also includes the recently formed MEGlobal and Equipolymers joint ventures.
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